FKLI 4th Aug 2009

As yesterday,
short position still holding.
stops remain at 1180.

Results:
3 safe, 0 con, 9 losses, 3 win.
as total: losses.

Outlook,
Bear rally in critical stage.
resistance levels must not break 1182. if break bull again

Strategy,
if FKLI >1182, bullish, turn long, cut loss at previous 15 min bar low - 3 points.
if FKLI >1177 on 15min closing, cut short position.
if FKLI 1177 < x < 1160, stay out.
if FKLI <1160, short, cut loss at previous 15 min bar high + 3 points.

Monitor,

Dow Jones closing,
must close above 100 as before market close, already above 100 for futures.

Monday, Construction spending and ISM at 10:00,Auto sales in the afternoon. Foreign exchange rates will be released

Tuesday, Pending home sales and Personal income. Testimony from FED governor Tarullo on tuesday regarding bank supervision

Wednesday, ADP employment index, ISM services and Factory orders.

Thursday,weekly Jobless claims.

Friday Non-farm payrolls, the Unemployment rate, and Consumer credit.

Nikkei trading is very important.